| The collapse of Europe's latest attempt to breathe life into its moribund carbon trading scheme is a hammer-blow for proponents of a global carbon trading system. So much has gone wrong with Europe's scheme that a global trading regime may be out of reach for decades, even if the carbon price recovers.
Europe launched its trading system in 2005, and it quickly became the world's carbon trading hub, for European permits, but also for ones generated in other markets, including the world's largest issuer of permits, China.......................................Full Article: Source
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